NATO Innovation Fund leads €6M Series A in Laki Power

Laki Power has raised a €6 million Series A led by the NATO Innovation Fund, with ReykVC joining. It's the first time NIF has invested in an Icelandic company.

We've been with Laki since 2019, when we led their first institutional round. Back then it was a small team in Reykjavík with a patent application and a genuinely clever idea: if the hardest part of monitoring a power line is getting electricity out to it, take the electricity from the line itself.

That idea is now PowerGRAB - up to 300 watts pulled straight off a live high-voltage line, around 100x what conventional harvesting delivers. Enough to run cameras, weather sensors and satellite links in the middle of nowhere, forever, with nobody driving out to swap batteries. They're now using it to charge drones mid-flight along the corridors.

Óskar Valtýsson came up with it while working at Iceland's grid operator, staring at the problem every day. That's usually where the good ones come from.

Seven years on, a team of eight is selling across four continents, and a €1bn deep tech fund backed by 24 NATO allies has chosen them as its way into Iceland. Grid resilience stopped being a niche concern somewhere around the 2025 Iberian blackout, and Laki happens to be sitting exactly where the market is heading.

Congratulations to Óskar, Ósvaldur and the whole team.